Switzerland's inflation rate has turned negative for the first time since early 2021. Consumer prices fell by 0.1% year-on-year in May, according to the country's statistics office. This decline increases pressure on policymakers to lower borrowing costs.
The negative inflation rate contrasts with April's zero percent and aligns with economists' median estimates. The potential rate cut is anticipated later this month. This development signals a significant shift in the Swiss economic landscape.